Whilst I feel all creative passions should be appropriately rewarded, I would say musicians are the best rewarded out of all the ones that can be done in your bedroom. Authors and artists earn far less but still do it. Surely at the end of the day you play music whether you get paid or not.
As a record maker, I'd say record making is under attack from Suno about as much as novelists are under attack from Chat GPT. Both still require a crafts person to steer the tools, if they're to be used at all.
Yes there will be slop, but neither Suno nor GPT are close to making coherent work with creators with taste and good judgement.
Not exactly saying this is the reason for their sell, but I'd imagine a lot of professional musicians are feeling the desire to exit the industry.
[1] https://www.npr.org/2026/05/02/nx-s1-5804489/music-listeners...